Local House Price Comovements

Marcel Fischer, Roland Füss, Simon Stehle

Publikation: KonferencebidragPosterForskningpeer review

Abstrakt

We study the micro-level evolution of residential house prices using data on repeat sales on Manhattan Island from 2004 to 2015. We document that excess price comovement is a highly local and persistent phenomenon. The strength of such excess comovements vanishes with both spatial and temporal distance. Local underperformance is more persistent than local overperformance - particularly when house prices on aggregate level increase.
OriginalsprogEngelsk
Publikationsdato2020
StatusUdgivet - 2020
BegivenhedThe 80th Annual Meeting of American Finance Association. AFA 2020 - San Diego, USA
Varighed: 3 jan. 20205 jan. 2020
Konferencens nummer: 80
https://afajof.org/annual-meeting/

Konference

KonferenceThe 80th Annual Meeting of American Finance Association. AFA 2020
Nummer80
LandUSA
BySan Diego
Periode03/01/202005/01/2020
Internetadresse

Emneord

  • Housing market
  • Price comovements
  • Urban economics
  • Real estate
  • Repeat sales

Citationsformater

Fischer, M., Füss, R., & Stehle, S. (2020). Local House Price Comovements. Poster session præsenteret på The 80th Annual Meeting of American Finance Association. AFA 2020, San Diego, USA. https://www.aeaweb.org/conference/2020/preliminary/paper/KeAG29ia